| 1 |
Not worth method is equal to. |
- A. Liabilities - assets
- B. Assets- liabilities
- C. Capital + assets
- D. None of these
|
| 2 |
How many methods are available to calculate the profit or loss under single entry system, |
- A. One
- B. Two
- C. Three
- D. Four
|
| 3 |
According to companies ordinance, single entry system cannot be adopted by, |
- A. Sole proprietorship
- B. Partnership
- C. "a" and "b"
- D. Joint stock companies
|
| 4 |
Single entry system is suitable where, |
- A. Small amount of cash transactions are more
- B. Large amount of cash transaction are more
- C. Smallamount of cash transaction are more
- D. Largeamount of cash transaction are more
|
| 5 |
Bad debt written off always affect the |
- A. Deblor's account
- B. Creditors account
- C. Cash account
- D. All of the above
|
| 6 |
Arithmetical accuracy of the books of accounts cannot be checked under. |
- A. Single Entry system
- B. Double entery system
- C. None entery system
- D. Both a and b
|
| 7 |
In cash of net worth method of sigle entery system net profikt is ascertained by. |
- A. Prepareing the trading and profit and account
- B. By cimparing the capitals in the beginning and at the end of the accounting period.
- C. Capital closing + Drawing - fresh capital - opening capital
- D. Capital opening+ Drawing - fresh capital-closing stock
|
| 8 |
Double entry system means |
- A. The recording of same things twice
- B. Double accounting
- C. The two sides of every transaction are recorded
- D. Entry at two dates
|
| 9 |
In case of dissolution, assets sold for cash are debited to. |
- A. Realization account
- B. Cash account
- C. Assets account
- D. None of these
|
| 10 |
In single entry system both the aspects, debit and credit of a transaction are not recorded soit is. |
- A. Incomplete and unscientific
- B. Complete and scientific
- C. Incompleted and scientific
- D. Complete and unscientific
|